Local media reports that during a recent debate on the proposed legislation, Kamil Ziegler, CEO of the nation’s biggest gambling operator OPAP, said that Greece needs to introduce curbs on the illegal provision of gambling services as it is annually losing millions of euros to the black market. Ziegler pointed out that unlicensed operators annually collect between €300 million and €500 million from Greek players.
OPAP is currently the exclusive operator of sports betting services and lottery games in Greece. The company also provides its products in the Republic of Cyprus. Previously, OPAP was run by the state, but later on became a public company. It was eventually privatized back in 2013. The company annually contributes €780 million for the exclusive rights to operate certain lottery games and sports betting shops across the nation.
The draft legislation to be voted in the next few days includes a study comprised by research firm Deloitte, which claims that tax revenue of around €1 billion could be generated for the country’s coffers within the next four years, if the bill is voted into law.
The Hellenic Gaming Commission also had its contribution to the push for the re-regulation of the local gambling industry. The regulator revealed that it had seized more than €5 million in illegal gambling proceeds in the period between 2005 and 2015 and had registered more than 18,000 violations of the nation’s gambling laws.
Source: GMB / Casino News Daily
